Comparison of Independent Reserve vs 50X [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Independent Reserve vs 50X comparison!

Your expert: Alejandro Borja

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

50x

50X

  • Threenvest valuation: 3/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≤0,50%

Earns

No

Customer service

4/5
0.20%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.
3.8 – Competitive fees but slightly higher than industry leaders.

Level

≤0,50%
0.20%

Brief explanation

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.
50x employs a relatively straightforward commission structure designed to accommodate both casual and serious traders. The exchange charges a standard trading fee that is competitive with industry norms, yet it varies slightly depending on the trading pair and the volume. Importantly, 50x utilizes a tiered fee system; thus, higher trading volumes benefit from lower fees. This approach encourages active trading and can be particularly advantageous for traders planning to execute large volumes of transactions.

Independent Reserve

independent reserve
Read Independent Reserve review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

Read Independent Reserve review

50X

50x
Read Independent Reserve review
  • Year Founded: The recent inception of 50x positions it as a modern platform designed with the latest technologies and a fresh approach to cryptocurrency trading.
  • Security Methods: 50x implements advanced security protocols, including multi-factor authentication and encryption, to protect user data and funds.
  • Trading Volume and Liquidity: Despite being a newer player, 50x is gradually increasing its trading volume and liquidity, which is essential for executing trades efficiently and minimizing slippage.
  • Reputation and Reviews: Early reviews highlight 50x's innovative trading features and technology, particularly praising the flexibility offered by its Any2Any trading system.
  • Customer Service: 50x has committed to a strong customer support framework, providing users with multiple channels for assistance and fast response times, which is crucial for building trust with users.
  • Pros
  • Innovative Any2Any trading technology
  • Wide range of cryptocurrency pairs
  • User-friendly for advanced traders
  • Cons
  • Complex interface for beginners
  • Smaller user base

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Independent Reserve Pty. Ltd.
AXX Exchange

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2018

Founder

Adam Tepper
Alexander Udovichenko

Payment methods

Transfers

Yes
No

Mastercard

No
Yes

Wire transfer

Yes
Yes

Card

No
Yes

Comparative table

Independent Reserve FEATURES 50X
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Minimum Trade
Allows small minimum trades, suitable for beginners testing strategies.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Trading and Transaction Fees
Competitive fees, but could be better explained on the website.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Number of Cryptocurrencies
Offers a wide variety, though not the largest selection available.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Crypto-to-Crypto Trading Pairs
Extensive pairs due to Any2Any technology, facilitating unique pairings.
The website is user-friendly and transparent about fees, regulations, and available services.
Website Transparency
Needs more clarity on fees and liquidity sources.
Independent Reserve does not offer a card for in-store purchases.
Credit/Debit Card
Lacks an exchange card, missing out on potential benefits and convenience for users.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Storage Offering
Provides secure storage solutions, though details are scarce.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Staking and Rewards
Offers staking options, but fewer rewards compared to competitors.
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Mobile App and Desktop
Both platforms are robust but require a learning curve.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Customer Service
Generally responsive with multiple support channels, though not 24/7.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.
Deposit and Withdraw
Supports multiple methods but feedback suggests delays during high traffic.

Key features

Analysis tools

Basic charting tools
Advanced charting tools, technical indicators

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

OTC trading, SMSF services, staking, insurance options
Margin trading, futures contracts, staking rewards, advanced charting tools

Anonymity

No
No

Key points

Available cryptocurrencies

20+
100+

User-friendliness

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
50x offers a user-friendly interface that is intuitive for both beginners and experienced traders. The platform’s design emphasizes simplicity without compromising on advanced features, making it easy to navigate and execute trades efficiently.

Value for money

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.
Provides good value for money with competitive trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for traders.

Countries of operation

Australia, New Zealand, Singapore
United States, Canada, United Kingdom, Australia, Singapore

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.
Ideal for experienced traders looking for competitive fees and a wide range of supported cryptocurrencies, as well as those interested in margin trading.

Base currencies available

AUD, NZD, USD, BTC
USD, BTC

Account

Trading

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.
50x offers a robust trading platform with a wide range of cryptocurrency pairs. The interface is user-friendly, making it suitable for both beginners and experienced traders. Security features are strong, but liquidity might be lower compared to larger exchanges.

Deposit and withdrawal

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
50x offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Processing times are generally quick, but bank transfers can take several days. Fees are minimal.

Account opening process

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
Opening an account with 50x is straightforward and fully digital. The process involves filling out basic personal information, verifying your identity, and typically takes less than a day to complete. No significant barriers to entry are noted.

KYC required?

Yes
No

Customer Service

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
50x provides customer support through email and live chat. Responses are generally quick and helpful, but phone support is not available, which may limit immediate assistance for urgent issues.

Security

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.
50x prioritizes security with two-factor authentication (2FA) and encryption. The platform has a good track record but lacks regulation by top-tier authorities, which may be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewing 50x, I find its innovative Any2Any trading technology particularly compelling for those interested in exploring a wide range of crypto pairings. This feature alone sets it apart in a crowded market. However, newcomers should be prepared for a learning curve due to the platform’s complex interface. I recommend 50x for traders who have some experience and are looking for new trading opportunities in a secure and technically advanced environment.

View all comparisons against Independent Reserve

View all comparisons against 50X

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Independent Reserve and 50X